Tribunal approves retail unit merger

The Competition Tribunal has approved the merger of the agri-retail divisions of agricultural services companies Afgri and Senwes. Both companies said on Friday that the merger of their retail services was approved subject to conditions relating to the flow of information and undertakings on employment, and that they would now proceed with the merger, which would take effect on June 1. Afgri chief executive Chris Venter said: “We look forward to ensuring a smooth business transition.” Senwes managing director Francois Strydom said it would take all necessary steps to ensure the businesses continued uninterrupted. “We will proceed with all the steps in the implementation process and our respective teams are in place.” The merger includes Afgri’s Partrite wholesale business. Afgri shares fell 3.4 percent to close at R5.12 on Friday. – Nompumelelo Magwaza